Days after revealing a price hike, Netflix revealed that its subscriber base increased by 8.84 million in the most recent quarter.
The jump puts them at 139 million subscribers worldwide, a record for the streaming service.
Such high numbers do not come cheap. In 2018, the company made it mandatory to attain an $8 million annual content budget. Investors took the budget as a sign that Netflix is “committing to covering those growing programming (and marketing) costs.”
It has paid off (pun intended). The company is spending so much money on content. Recent hits likeYou and Birdbox brought in more than 40 million and 80 million viewers respectively.
It is not clear how reported account sharing has affected such numbers.